Word: auctioned
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Dates: during 1940-1949
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Used-car sales are just as bad-maybe worse. Prices are 25% to 33% below last year. At a New York City Police Department "lost-strayed-or-stolen" auction, 1,500 bidders bypassed 155 second-hand cars (except as junk), bid up to $37 for second-hand bicycles. In the Carolinas, new and used-car sales were off 50%; in Florida, many a disgusted dealer got ready to quit; in Maine, there were more sellers than buyers. Even in the gasoline-rich West and Midwest, rumors of rationing slowed sales down...
George McNear got into railroading in 1926, when he spied T.P. & W. on the auction block, outbid giant Pennsylvania R.R. by paying $1,300,000 ($130,000 in cash). T.P. & W. hardly seemed a bargain, but it had one big asset: over its 239 miles of track (between Effner, Ind. and Keokuk, Iowa) transcontinental freight can save days by dodging the Chicago terminal bottleneck. McNear got to work and within 45 days the long-bankrupt road was making money. It has made money ever since. Last year it earned a neat $365,000 on $2,775,000 revenue...
...late Charles M. Schwab's 27-room mansion in Bethlehem, Pa. went on the auction block, drew one bid: $5,000. Administrators of the estate declined, decided to try again later...
...Even after six months of gradually decreasing automobile quotas, long months when it was clear that conversion must come, OPM still had no plan for conversion, still did not know who could or would make what. The best Bill Knudsen could do at this late date was try to auction off the orders, hit or miss...
Like a fairy tale goes the story of Alsab, son of a onetime race horse named Good Goods and a $90 mare. As a yearling, he looked so worthless he was knocked down for only $700 at the Saratoga auction sales. Last week, in front of the insect-proof cage that surrounds Sab's stall at Hialeah Park, his owner, Lawyer Albert Sabath of Chicago, set up champagne for hundreds of two-legged guests, drank a toast to the colt that has already won $110,610 for him, the colt with whom he would not part for a quarter...